Monday, October 9, 2017

Magellan Secures $100 Million in Rural Fiber Network Funding

DENVER, CO —Magellan Advisors, a broadband and smart city consulting firm, has assisted its clients in securing $100 million in grant funding for next-generation fiber broadband and smart grid networks in their communities. Magellan Advisors' team of broadband experts provided the engineering, business and financial plans that lead to successful funding of over 1,000 miles of new fiber deployments.

Magellan's broadband planning teams also lead the grant writing and due diligence programs to ensure its clients met key statutory requirements, resultng in the approval of nearly $100 million of broadband funding. Magellan Advisors will continue to support its clients through the implementation of these projects, providing broadband engineering, project and construction management, and grant compliance and oversight. Magellan Advisors is a consulting firm for communities seeking funding for broadband and smart grid deployments, supporting local economic competitiveness, efficiency, and the quality of life of residents.

Matawa First Nations, Ontario, Canada
Matawa First Nations Management (MFNM) secured $67 million in funding to interconnect five remote communities in Northern Ontario through deployment of a nearly 600 mile middle-mile network, based on a comprehensive broadband business plan developed by Magellan in 2016. Each community will be equipped with fiber to the home broadband, providing high-speed Internet and other services to every home, business, and community anchor.

Matawa First Nations engaged Magellan to establish an initial Broadband Feasibility Study in 2014, which yielded an opportunity to deploy services within the First Nations' communities. Magellan Advisors' consulting teams were instrumental in developing all supporting grant documentation, managing the grant application development process, and supporting all due diligence requirements through funding commitment. Magellan Advisors continues its work with MFNM to secure an operating agreement with a local provider, support grant program management, and provide overall project management for the MFNM network.

Total funding commitments include $37.1 million from the Federal Ministry of Innovation, Science, and Economic Development; $30 million from the Government of Ontario; and, $2.14 million from Indingenous and Northern Affairs Canada to conduct an archeological investigation in support of the project. This funding is reportedly "Part of the Largest Infrastructure Investment in Ontario's history."

Newport Utilities and The City of Newport, Tennessee
Newport Utilities and the City of Newport, Tennessee's $21 million Smart Grid Loan application was recently approved by the USDA Rural Utilities Service Electric Program. The network will improve control systems and support resiliance within the Newport Utilities electric grid, while providing a platform to improve broadband services throughout the Newport Utilities service area. Construction is underway and will be completed in 2018.

Magellan Advisors conducted a full feasibility study to determine the viability of Newport Utilities deploying a smartgrid and broadband network to support the electric utility's growing needs. A phased roadmap and business plan was developed to construct the network following the development of a comprehensive funding and financial plan by Magellan Advisors.

Magellan Advisors was instrumental in assisting Newport Utilities to apply for and secure USDA RUS funding for the buildout. Magellan's experience with USDA RUS and other loan and grant programs gave Newport Utilities a trusted partner to oversee the development of its loan. As a result, Newport Utilities was approved for 35-year funding at rates lower than current municipal and electric bonds. Magellan Advisors has also secured additional local and state grant funding for Newport Utilities in development of additional deployments in its service area.

Today, Newport Utilities has engaged Magellan Advisors for full turnkey broadband engineering, design, project and construction management, implementation and deployment services for the smart grid and broadband network. Magellan Advisors will manage the full implementation of the network, helping Newport Utilities achieve its goals for smart grid and broadband deployment across its service territory.

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